Wealthy widows and widowers on the lookout for other partners can multiply their estate and gift tax exclusions thanks to taxpayer-friendly regulations that Congress has declined to reverse so far. “Congress was worried about the ‘black widow’ who...
QTIP Trusts Could Allow Big Gifts With Small Costs
Wealthy individuals concerned that the higher estate and gift tax exemptions will disappear in 2026 can use a special trust planning technique to ensure they use up their bonus exclusion amount without giving up much. Those who are interested in...
Incident Management: What Role Does Legal Play?
Barbara D. Andrews of California Academy of Sciences discusses the use of an "Incident Command System" to effectively manage major incidents within an organization. This highlight is part of the on-demand series from the Legal Issues in Museum...
Non-Grantor Trusts May Sneak Services Into Passthrough Deduction
The exclusion of several professional service fields from the benefits of the new pass-through deduction left many professionals dismayed, but non-grantor trusts could help bypass that obstacle. Grantor trusts have been the entity of choice for...
Supreme Court Gives Employers “Epic” Win: Upholding Class Action Waivers in Arbitration Agreements and Rejecting Obama NLRB
In Epic Systems Corp. v. Lewis (a companion case to NLRB v. Murphy Oil USA and Ernst & Young v. Morris), the U.S. Supreme Court finally and decisively put to rest the Obama-era NLRB's aggressive contention that the National Labor...
Immigration Regulations Impact
Elena J. Voss of the Metropolitan Museum of Art and Dan H. Berger of Curran & Berger LLP discuss the recent changes in immigration policy and its potential impact on museums. Voss also discusses drafting exhibition agreements and responsible...
Museums and Technology: Emerging Legal Issues
Jeffrey De Blois of the Institute of Contemporary Art/Boston discusses an art exhibit, its technology, and the challenges the piece presented to the museum from a curator's perspective. S. Jason Balesta of Massachusetts Institute of Technology...
Alimony, Trust Tax Changes Make 2018 ‘Year of Divorce’
The Tax Cuts and Jobs Act’s delayed repeal of the deductibility of alimony payments and a provision governing trusts in cases of divorce may add some urgency to couples looking to separate. “As a tax policy matter, we encourage divorce in 2018,”...
Non-Profit Tax Law: What’s Trending
Laura Damerville of the Smithsonian Institution and Sara Geelan of the Barnes Foundation discuss the new tax law and how tax-exempt employers are now taxable when they pay certain fringe benefits to their employees such as monthly parking passes....